Learning

Clear Demand Retail Pricing Overview

Join a product expert for only 20 minutes and see our approach to strategy, transparency, and usability and visualize how you can compete more effectively in your markets with your merchandise! Our commitment is clarity. Our mission is clear.

This short product discussion is intended to allow pricing professionals at all levels within a retail organization to witness the ease available in setting pricing strategy and reviewing and manipulating prices – afforded by current pricing technologies from Clear Demand.

Attend live to get your questions answered by a qualified product expert. Each of these demos listed below will cover the same topics and materials. To request a demo, send an email to Marketing@cleardemand.com

Thought Leadership. Retail Pricing Strategy Series.

Clear Demand is committed to providing clarity and meaningful information as an innovative thought leader. Accepting the status quo is not sustainable in retail or in the pricing technology that supports retail. We accept that and the role we choose to play in advancing industry thought leadership – sometimes contrary to popular opinion. Our mission is to help retailers compete more effectively. We are pleased to announce our Retail Pricing Strategy Series. This content series is dedicated to addressing the most current pricing strategy concerns posed by retailers; providing honest commentary and challenging the status quo.

Volume #1:

Play by the Rules: how should optimization systems solve, report and manage pricing rules?

Retail pricing rules are more important today than ever to enforce a retailer’s price strategy, compete effectively and deliver a consistent shopping experience. How rules are handled inside optimization solutions is critical. Optimization cannot be solved 1st and rules solved 2nd – as it has been done for years – otherwise rules violations will proliferate; pricing inconsistencies will occur and same-store sales will erode.

Big data is a game-changer because of its connection to OmniChannel retailing. Today, OmniChannel shoppers use catalogs, blogs, review websites, comparison shopping engines and then shop in-store, at kiosks, on your website, and use multiple devices including computers, tablets and smart phones – often within the same shopping transaction. This interaction of devices and channels has expanded the customer data available and data management challenge and yet holds the key to creating an interconnected shopping experience which drives loyalty and sales.

What has changed is the need for an OmniChannel pricing architecture that rationalized prices online and in-store, dynamically neutralizes Amazon’s competitive incursions, and provides more flexibility and scalability for increasingly localized and granular markdown budgets and programs. We propose that the new toolset for Markdown Pricing includes lifecycle demand modeling, and OmniChannel rules engine, competitive price surveillance, integrated budgeting and strategy, constrained optimization , and merchandise analytics and reporting. The focus of this paper is to elevate the primary considerations for markdown pricing strategy en route to competing more effectively.

Mobile and online technologies have changed the competitive landscape by providing consumers broader assortment choices with increased price transparency. This disruption has altered the basis of competition in favor of assortment and price and prompted in some cases indiscriminate price matching. A competitive response is imperative, but with whom, where and on which products? In other words, we need to rethink how we compete on price and assortment in a changed retail economy. In this paper we explore the pitfalls of price matching and introduce new important merchandising questions for competing effectively in OmniChannel retail.

Online transparency (price & product) enabled by online/mobile technology has created an “always-on” shopping experience for consumers which has altered the basis of competition in retail. Retailers today require an integrated approach for assortment, price & promotions across channels, which is more “demand-driven”, responsive to competition and takes a single view of the OmniChannel enterprise. OmniChannel Demand Management (ODM) is a new category of solutions which answers the needs for this evolving retail supply chain so consumers enjoy a seamless shopping experience and retailers compete effectively.

As Director of Pricing, Mary is struggling with her retail pricing strategy. Marys’ struggles, however, are familiar themes across retail today, like ‘getting shoppers in her stores and still driving profits’. So what’s Mary to do? More work, late nights? More status quo, or is it time to take pricing innovation for a test drive?